Nexo’s borrowing rates cut to 5.9% APR
By Inkarias - 2019-10-22
Nexo, a lending institution well adopted by the market has recently announced that having secured long-term cost-efficient financing has significantly lowered the rates on Nexo signature Instant Crypto Credit Lines™, allowing to offer the lowest rate on the blockchain ecosystem. The APR on Nexo’s Instant Crypto Credit Lines now starts at only 5.9% with no hidden fees, no minimum repayment requirements and no credit checks which ensures maximum flexibility for clients to borrow against their crypto assets in 40+ fiat currencies across more than 200 jurisdictions.
The rate cut is the result of the company’s ongoing effort to bring down its funding costs by utilizing Nexo’s extensive network of financial partners and access to institutional liquidity to open new horizons and new possibilities. The lowered interest rates for Nexo’s Instant Crypto Credit Lines will generate more volume overall and increase dividend payments for NEXO Token Holders. Regardless of the reduction of borrowing rates, the interest on Nexo’s ‘Earn Interest’ product remains 8%, thus, clients will continue to benefit from the current high-yield interest on their idle assets.
Nexo OverviewNexo is the blockchain’s regulated financial institution and the only provider of Instant Crypto Credit Lines, offering investors tax-efficient access to the value of their digital assets without having to sell them. Nexo platform has processed more than $1 billion in under 18 months and continue to offer quality services at lower cost for the community.
All Nexo products are completely automated, offering an incredibly intuitive user experience and the flexibility to fit the individual financial needs of a global customer base of more than 300,000 users by now. Anyone is able to benefit from Nexo services, regardless of their capabilities, enjoying an ergonomic interface and easy-to-use features.